Onfido is no longer independent. Entrust Corporation completed an all-cash acquisition of Onfido on April 9, 2024, reported at roughly $650 million, and Onfido is now a wholly-owned subsidiary being rebranded as 'Entrust IDV' through 2026.

Is Onfido profitable?

No independent profitability figures are disclosed post-acquisition. At acquisition (April 2024) Onfido reported over $130 million in revenue and 1,200+ customers, but it now operates inside Entrust's financials with no standalone P&L reported.

Could AI replace Onfido?

Onfido's core product is already AI (Atlas engine, 10,000+ micro-models), so it isn't being replaced by AI directly, but cheaper AI-native rivals like Stripe Identity and Sumsub are commoditizing the verification layer and taking usage-based growth-segment share as of mid-2026.

Who is Onfido's biggest competitor?

Direct rivals named across 2026 market comparisons include Jumio, Sumsub, Veriff, Persona, and Trulioo, with Stripe Identity flagged as the fastest-growing threat because it's bundled into Stripe's payments platform with usage-based, developer-first distribution as of June 2026.

What happened with the Onfido security incident in July 2026?

Reports surfaced July 11, 2026 of unauthorized access affecting Onfido/Entrust systems tied to customer Spiko. Full scope remains undisclosed by Entrust, making it the most material unresolved risk for a company whose core business is identity verification.

Is Onfido shrinking under Entrust?

Headcount signals suggest yes. Onfido was described as '500-strong' at the April 2024 acquisition; LinkedIn showed 338 employees by March 2025, with other trackers citing figures as low as 190, indicating consolidation into Entrust's broader ~3,000-person organization.

Payments companies · subsidiary of Entrust Corporation · United Kingdom

Onfido

onfido.com ↗

UK identity verification firm for fintech onboarding, now a subsidiary of Entrust.

Losing its protection

Assessed 21 July 2026 · Evidence as of 21 July 2026

The structural protection is eroding.

On the recordSince 21 July 2026 · Checkable from H2 2026 · Every call on the record Checkpoint: Resolution and regulatory disclosure of the Spiko unauthorized-access incident

The call

Onfido's technology still works and its customers still need it, but it now exists inside Entrust's plans, not its own.

Onfido checks people's identities for banks and online services by verifying documents and faces. It was a real, profitable business until Entrust bought it in April 2024 and is now rebranding it and cutting staff from 500 people down to under 340. The hard part used to be building fraud detection smarts and getting regulatory approvals, but now Stripe and other upstart competitors are stealing customers by being cheaper and easier to plug into code, while Onfido's new owner treats it like an old asset to squeeze rather than a growth engine. The one thing that could blow this up: a security breach from July 2026 exposed customer data in ways that remain unclear, and in an identity-checking business, a breach kills trust with customers faster than almost anything else.

Why

AI pressure: Generative AI deepfake and synthetic-identity tools. Deepfake fraud attempts rose 31x, forcing constant model updates while also proving why customers still need Onfido's detection layer. Could AI do the core job? Only partly.

Bigger players: Stripe Identity. Stripe bundles identity checks straight into its payments platform, winning developer-first, usage-based deals Onfido used to get. Could a giant copy it? Probably.

What protects it. Regulatory certifications, large proprietary fraud datasets, and deep workflow integrations make enterprise clients slow to switch.

What would change this call

Entrust discloses regulatory action or customer churn tied to the July 2026 Spiko unauthorized-access incident. Would show the breach is materially damaging trust in a business where trust is the core product.
Entrust IDV headcount (currently 190-340) rises or falls further by end of 2026. Growth signals reinvestment; further decline signals the unit is being run down, not built up.
A named enterprise or fintech customer publicly switches to Sumsub, Veriff, or Stripe Identity from Onfido/Entrust IDV. Confirms rivals are actively converting Onfido's existing customer base, not just new market entrants.

Key numbers

Acquired by Entrust for about $650M (2024-04-23)
$130M revenue, 1,200+ customers at deal close (2024-04-26)
Headcount fell from 500 to 190-340 (2025-03-31)

Named risks

Unresolved July 2026 unauthorized-access incident affecting customer Spiko, scope undisclosed. Severity: high
Headcount shrinkage from ~500 to 190-338 signals absorption or harvesting rather than investment. Severity: medium
Losing growth segment to usage-based rivals like Stripe Identity, Sumsub, Veriff. Severity: high
Ongoing BIPA biometric-privacy litigation payouts running through at least February 2027. Severity: medium
Entrust CEO transition (March 31, 2026) could deprioritize IDV as non-core legacy asset. Severity: medium

Rivals, as read in July 2026

Rival	Direction	Evidence
Stripe Identity	gaining on	Bundled into Stripe payments platform, usage-based pricing, taking developer-first share as of 2026-06-21
Sumsub	gaining on	Winning growth segment via usage-based pricing and configurability, per 2026-07-04 market commentary
Veriff	gaining on	Cited among rivals gaining share on speed and UX innovation as of 2026-06-15
Jumio	contesting	Named as closest direct enterprise competitor across 2026 market comparisons
Persona	gaining on	Flagged as configurable usage-based alternative gaining share in 2026 comparisons

Questions people ask

Who owns Onfido now?: Onfido is no longer independent. Entrust Corporation completed an all-cash acquisition of Onfido on April 9, 2024, reported at roughly $650 million, and Onfido is now a wholly-owned subsidiary being rebranded as 'Entrust IDV' through 2026.
Is Onfido profitable?: No independent profitability figures are disclosed post-acquisition. At acquisition (April 2024) Onfido reported over $130 million in revenue and 1,200+ customers, but it now operates inside Entrust's financials with no standalone P&L reported.
Could AI replace Onfido?: Onfido's core product is already AI (Atlas engine, 10,000+ micro-models), so it isn't being replaced by AI directly, but cheaper AI-native rivals like Stripe Identity and Sumsub are commoditizing the verification layer and taking usage-based growth-segment share as of mid-2026.
Who is Onfido's biggest competitor?: Direct rivals named across 2026 market comparisons include Jumio, Sumsub, Veriff, Persona, and Trulioo, with Stripe Identity flagged as the fastest-growing threat because it's bundled into Stripe's payments platform with usage-based, developer-first distribution as of June 2026.
What happened with the Onfido security incident in July 2026?: Reports surfaced July 11, 2026 of unauthorized access affecting Onfido/Entrust systems tied to customer Spiko. Full scope remains undisclosed by Entrust, making it the most material unresolved risk for a company whose core business is identity verification.
Is Onfido shrinking under Entrust?: Headcount signals suggest yes. Onfido was described as '500-strong' at the April 2024 acquisition; LinkedIn showed 338 employees by March 2025, with other trackers citing figures as low as 190, indicating consolidation into Entrust's broader ~3,000-person organization.

Timeline

2026-07-11Reports of unauthorized access incident affecting customer Spiko, scope undisclosed
2026-04-03Atlas AI platform reports 54% fraud-accuracy gain, 12x automation speed
2026-03-31Entrust CEO transition from Todd Wilkinson to Tony Ball takes effect
2025-03-31LinkedIn shows Onfido at 338 listed employees post-acquisition
2025-03-25Onfido launches identity verification app on Salesforce AppExchange
2025-03-19Onfido launches Compliance Suite with QES and OTP for EU markets
2025-03-18Onfido launches Fraud Lab and 2024 Identity Fraud Report, deepfakes up 31x
2025-02-10Onfido launches Motion facial biometric liveness, 12x faster, iBeta Level 2
2024-04-09Entrust completes acquisition of Onfido for reported ~$650 million
2021-07-28Onfido announces surpassing $100M ARR with over 100% YoY growth

Revision history

21 July 2026

First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.

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